Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
Please consider a small donation if you think this website provides you with relevant information
| Statement |
|---|
| This has had a positive impact on our fourth quarter results, and we expect that to continue into 2024 |
| We had positive net income of $0.5 million and adjusted earnings came in at $2 million or $0.02 per share, both improved over previous quarters for 2023 |
| We have made improvements in the mechanical equipment of the mill and expect recovery rates to improve along with grades as we move into higher-grade zones, in line with the projected mining sequence |
| So that's really exciting from our standpoint, because we get a chance to run the actual material through the mill, see how it performs and get some revenue from it |
| So, we're very optimistic |
| One of our major objectives is to make a positive impact on our communities and society |
| Again, the fourth quarter improved on higher costs seen in second and third quarters |
| Most importantly, our working capital position has improved significantly with working capital up to around $10 million at the end of the year, almost doubling from where we were at the end of the second quarter |
| Per ounce metrics also improved with cash costs and all-in sustaining cash costs decreasing compared to Q3 and Q2, and we continued to generate additional operating cash flow from operations |
| So, it's translating into a very productive year |
| The fourth quarter generated our highest quarterly revenue for the year, and we were able to demonstrate positive movements on the cost side, which translated to improved operating margins from the Avino mine |
| And secondly, after the end of the year, we're extremely pleased to announce that we had signed a long-term land use agreement with the local community for the development of La Preciosa in Durango, Mexico |
| Here on Slide 10, you can see our cash cost for silver equivalent payable ounce for the fourth quarter did show improvement, coming in at $15 with the average on the full year being $15.61 |
| We're excited about the future of Avino |
| And since then, [Anna] (ph) and her team assembled to improve and strengthen the relationship with our neighboring communities and with each of our stakeholders |
| The [indiscernible] block is behind us now and redistributed into strong hands |
| And so, grade in some months is better than others |
| Metal prices are looking strong |
| The Oxide Tailings project is considered as one of our three catalysts for growth as the future gold and silver production asset |
| You produced the Oxide Tailings PFS, which was very positive, and more to come on that |
| Adjusted earnings paints a similar picture, with improvements on the quarter coming to the rest of 2023, a $0.02 per share generated in Q4 and $4.6 million or $0.04 per share generated in the year |
| But also, obviously, we're going to get some revenues and some positive ounces out of that as well, too, and some cost recovery |
| We're getting some pretty favorable terms on our leased equipment through our good partners at Caterpillar and other partners as well |
| The locals, we were in there, management was in there from headquarters, and we've met with the leaders and they're thrilled about the potential of the economic impact of that region |
| And following the guidelines of the SDG, the team was able to accomplish the following |
| Although the grades and recovery rates were slightly lower than 2022, we did see positive increases as we moved into other blocks at the mine |
| However, as mentioned, it was the highest quarterly revenues for this current year |
| This was an important key milestone for Avino on our path for growth |
| And I think we've made that message pretty clear to the market that once we're able to get in and develop and start production mining, there's going to be some economies of scale realized on the cost front |
| December production saw a noticeable increase in grade and recovery and that the trend has continued into Q1 2024 |
| Statement |
|---|
| For the full year, EBITDA was $2.5 million, down from $10 million in 2022 |
| This was down from our Q4 2022 record of $14.6 million |
| So, I see the problems other operators have getting permits for open pit |
| This is a modest decrease from the $16.90 we saw in the third quarter and the $16.33 in the second quarter, with signs of stabilization materializing |
| It's a bit tough to look further beyond '25, '26 |
| The decrease is a result of lower revenues as well as a strong pace of the US dollar rate when compared to fourth quarter in 2022 |
| Earnings per share came in flat for both the quarter and the year, decreasing from $0.01 in Q4 and $0.03 in the full year, both for 2022 |
| But we do expect costs from a consolidated basis on a per ounce basis to come down over the next two to three years, for sure, especially as we move and mix La Preciosa into our mill |
| I think we saw some of that variability in the first couple of quarters, but I thought Q3 and Q4 were fairly flat and didn't see quite as much variability |
| So, it took a while to go around to the various communities and let them know what our impact is, and it's going to be a very low impact |
| Two more questions on this |
Please consider a small donation if you think this website provides you with relevant information